Indian DRI, billet and rebar update - 16 Oct
India’s induction furnace (IF) steel market prices witnessed a downward trend on 16 October, 2023, across regions as offers floated by the mills declined in the...
India's induction furnace (IF) steel market prices witnessed a downward trend on 16 October, 2023, across regions as offers floated by the mills declined in the range of INR 100-700/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices varied in the range of INR 200-700/t. The sharpest drop was seen in Odisha's Jharsuguda market. Meanwhile, the Bellary market saw an uptick of INR 200/t.
Billet prices declined in the range of INR 100-500/t across all the regions, with the Hyderabad market witnessing the steepest fall.
Rebar (Fe 500) offers plunged in the range of INR 100-500/t in some regions, while remaining stable in others.
Due to the lackluster market environment and need-based material procurement, trading activities remained weak today.
Click here for re-bar brand wise details.
